I am not sure which lenders my dealership compared rates from, but the best rate came in at 6.84%. Considering my credit score and the published averages for 2024, I find this rate to be excessive.
So, what were the rates for those that financed, I wonder? If my rate is on the higher end, I will pull out of the purchase.
I went to my bank with a $24,000 down payment, financing $9,000, and my FICO 8 score is 850 for a new car loan, yet they offered me a rate of 7.75%.
Credit scores are such a scam.
That is ridiculous. My FICO 8 was around 816, and I recently got a rate of 6.21%.
There is something wrong there. I received 5.50, which is a little lower than that.
I would walk away at 7.75%. That’s an outrageous rate considering your down payment and 850 credit score.
I would grab the salesman by the collar and let them know they’re losing a sale because the finance guy is screwing me over. The salesman will take that information to the sales desk or manager and work it out with the finance department. That’s how things used to get resolved when I was in auto sales, from floor sales to running the desk and stepping in for F&I when needed.
It would be good if my personal bank of more than 20 years didn’t try to fuck me off, but I am sure I can find a fair rate.
I got around 5.5% from a credit union in California, while the dealership was trying to offer me around 12% for in-house financing, and Ford financing offered about 9-10%.
The dealership even tried to downplay my chances by claiming that no lender would offer such low rates right now, but then I showed them my pre-approved offer. 
I just bought a used 2022 XLT, and the best rate I could find anywhere was 8.4%. I needed a vehicle since mine was recently totaled, and I’d been saving up, so I got it from Carvana with only 14,000 miles for $25,000, putting down $10,000. I have great credit too over 790 on all three bureaus.
I just got 5.99% through the dealer (They used Chase bank) on a 60 month loan. Credit score is about 800. You can refinance in 6 months ish- rates should be down significantly